The Philippine Senate Committee on Games and Amusement recently held a hearing focusing on the issue of financial channels between electronic payment platforms and online gambling. Senator Risa Hontiveros pointed out at the meeting that although major electronic wallet platforms have removed gambling-related applications, users can still carry out large-scale fund transfers related to gambling through these platforms.
The information disclosed at the hearing shows that mainstream electronic wallets like GCash and PayMaya, despite having delisted directly associated gambling apps, their payment systems still support users in transferring funds to legal gambling platforms. Senator Hontiveros specifically emphasized that individual users can transact amounts up to 500,000 pesos through these platforms, raising concerns at the regulatory level.
In response to the senator's queries, GCash's legal head Gilbert Escoto stated that as a payment service provider, the platform finds it difficult to differentiate treatment among legally registered commercial customers and also lacks the technical means to monitor the specific uses of funds by users in real time. PayMaya's corporate affairs head Toff Rada responded that the platform strictly follows the regulations set by the central bank, handling transactions for tens of thousands of legal merchants.
When asked if the government requires a complete disconnection from gambling platform payments, representatives from both companies stated they would strictly comply with any regulatory directives from the Central Bank of the Philippines. This stance indicates that payment service providers will immediately adjust business rules once regulatory policies are clarified.
This hearing revealed the gray areas in the current Philippine electronic payment regulatory system. Although the central bank had previously required payment platforms to restrict gambling transactions, there are still technical and compliance challenges in the actual implementation process. Senator Hontiveros called on regulatory authorities to issue clearer operational guidelines as soon as possible to prevent the electronic payment system from becoming a channel for large-scale gambling fund flows.
Industry observers note that this controversy reflects the regulatory adaptability challenges faced by the Philippines in the rapid development of digital payments. As the number of electronic wallet users continues to grow, finding a balance between promoting financial innovation and preventing financial risks will become an important issue that regulators and industry participants need to address together.
